Crypto veteran Jesse Powell is weighing in on the state of the industry following the collapse of FTX, giving a prediction for what will propel the space out of its bear market.
In a new interview on the Bankless podcast, Powell says with billions of dollars now gone and a reputation to repair, the industry will need time to recover from the FTX debacle.
The Kraken founder says that the Bitcoin (BTC) halving, which will likely take place sometime in the first half of next year, could be the next bullish catalyst for crypto markets.
“It’s just a massive hit to lose $10 billion in capital from this industry. To have that just stolen away, that could’ve gone to great stuff and moved this industry